Office Building with Private
New
For Sale
$650,000
4991 N BUTLER Avenue, Farmington, NM 87401
Commercial Sale, Farmington, NM
Property Size2,331 SF
Lot Size1.36 Acres
Price / SF$278.85
Days on Market2
Property Features for 4991 N BUTLER Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Commercial
Directions
On the corner of Butler and Pinon Hills Blvd.
Subdivision
3H
Standard status
Active
Size
2,331 SF
Lot size
1.36 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
BEG AT SW CORNER OF SW/4 SE/4 NE/4 NE/4 OF SEC 34 30 13. BK.1555 PG.764
Legal Description
BEG AT SW CORNER OF SW/4 SE/4 NE/4 NE/4 OF SEC 34 30 13. BK.1555 PG.764
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Amenities
reception area
6 private offices
2 bathrooms
kitchen with washer and dryer hookups
refrigerated air conditioning
Building Details
Floors in Building
1
Listing Agency:
Coldwell Banker Cornerstone · Coldwell Banker Real Estate
(505) 325-7788
Listed By:
Colin Marshall · License #38781
(505) 486-9861
Added: Sep 11
Last Checked: Sep 12 at 3:06AM
MLS# 26-1155
Copyright © 2026 San Juan County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,331-square-foot office property includes a reception area, 6 private offices, 2 bathrooms, and a kitchen with washer and dryer hookups. The building is equipped with central air conditioning and natural gas heating, with parking available on the 1.36-acre site.
Positioned at the corner of Butler and Pinon Hills in Farmington, the property offers a defined office layout and practical support areas for business operations. Its existing configuration includes space for reception, individual offices, restrooms, and kitchen functions.
Positioned at the corner of Butler and Pinon Hills in Farmington, the property offers a defined office layout and practical support areas for business operations. Its existing configuration includes space for reception, individual offices, restrooms, and kitchen functions.
Key Highlights
- 2,331‑square‑foot office building on 1.36 acres
- 6 private offices with reception area
- 2 bathrooms and kitchen with washer and dryer hookups
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,811
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$416,220
$416.2K
Cap Rate 7%
$297,300
$297.3K
Cap Rate 9%
$231,233
$231.2K
Market Conditions
NOI Build-Up for 2,331 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.7K $14.88/SF
− Vacancy
−$6.9K −$2.98/SF
EGI
$27.7K $11.90/SF
− OpEx
−$6.9K −$2.98/SF
NOI
$20.8K $8.93/SF
Area
San Juan County, NM
Vacancy
20.00%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$416,220
Cap Rate 7%
$297,300
Cap Rate 9%
$231,233
Alternative Uses
Best Use
Office B
$297.3K
$260.1K – $346.9K
NOI $20,811 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$482.2K
$421.9K – $562.6K
NOI $33,755 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
128
Businesses Nearby
Explore this area
Business Placement
Demographics for 87401, NM
44,724
Population
17,611
Households
2.5
Avg Household Size
34
Median Age
19%
College-Educated
88%
High-School Grad
132.8 sq mi
ZIP Area
337
Density / Sq Mi
$56,358
Median Household Income
$31,362
Median Earnings
$983
Median Rent
$202,400
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Corner-located office property with reception space, private offices, two bathrooms, a kitchen, and on-site parking.
Where is this office building located?
The property is located at 4991 N BUTLER Avenue Farmington, NM.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,331‑square‑foot office building on 1.36 acres; 6 private offices with reception area; 2 bathrooms and kitchen with washer and dryer hookups
